KUALA LUMPUR (July 30): S P Setia Bhd (KL:SPSETIA) marked the commencement of its flagship overseas development with a groundbreaking ceremony for Setia Garden Residences at EcoXuan, Bình Duong Province in Ho Chi Minh City on Saturday (July 26) morning.

Setia Garden Residences, with a gross development value of US$81 million (RM381.1 million), comprises three towers ranging between 27 and 28 floors and will offer 865 apartments and shophouses.

Scheduled for completion in 2027, the development includes studio to three-bedroom units and is located along Binh Duong Boulevard, a major corridor connecting the city centre with surrounding provinces.

In a statement, president and chief executive officer Datuk Choong Kai Wai said, “Setia is committed to being a leader in building sustainable communities and enriching lifestyles, not just in Malaysia but globally, especially in strengthening our presence in Vietnam.”

He added that the progress of the project reflects the group’s strategy in leveraging strategic advantages following the administrative merger of Bình Duong into Ho Chi Minh City.

Setia Garden Residences is part of the larger US$261 million EcoXuan township, spanning 27.1 acres and positioned within a transport-integrated area served by Metro Lines 1 and 2, Ring Roads 3 and 4, as well as expressways to Long Thanh International Airport.

The residences will offer a landscaped amenities deck featuring a swimming pool, fitness centre, spa, playground, co-working space, lifestyle room, urban farm and multi-tiered security.

Residents will also benefit from a 10-minute travel radius to AEON Mall, Lotte Mart, Song Be Golf Course and Becamex International Hospital.

The ceremony was attended by key officials including Consul General of Malaysia Firdauz Othman, Malaysia External Trade Development Corporation's Zaimah Osman, Phuoc Thanh Construction Corporation's Nguyen Hai Ho and Tran Tu Thanh, Lai Thieu Ward leader Truong Công Thach, as well as S P Setia chief operating officer Datuk Zaini Yusoff.